 | When interest rates are low, your payments may go down |  | If interest rates go up, so will your payments. Even an increase of just 1% could add up to £83 a month to your repayments for a £100,000 mortgage |
| Arrangement fees for SVR mortgages tend to be lower than for trackers or fixed rates. There may be no arrangement fee charged at all | | Standard Variable Rates are not famed as the cheapest mortgage rates available, so you may be paying more than the best tracker or discounted rate mortgages around |
| There are generally no Early Repayment Charges, which allows for flexibility if you want to overpay, pay off the mortgage early, or remortgage to a new deal |
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